Is Coconut Grove, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Coconut Grove was a Neutral Market.
Key Takeaway
Coconut Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Coconut Grove, FL
How much do homes in Coconut Grove, FL cost?
Median Sold Price
$1,500,000
$806/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Coconut Grove have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Coconut Grove was $1,500,000 in March 2024, up 8.9% from last year, and the median price per square foot was $806.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $401K | $442.5K | +10.3% |
| 2 Bedrooms | $995K | $1.2M | +21.1% |
| 3 Bedrooms | $1.6M | $1.6M | +2.3% |
| 4 Bedrooms | $2.1M | $2.5M | +20.2% |
| 5+ Bedrooms | $4.4M | $4.6M | +4.8% |
Summary: Coconut Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Grove Isle | $1.2M | $1.4M | +22.9% |
| Douglas Park | $555K | $655K | +18.0% |
| Coconut Grove | $1.3M | $1.5M | +8.9% |
| Sunrise Harbour | $532.5K | $550K | +3.3% |
Housing Supply in Coconut Grove, FL
How many homes are available in Coconut Grove, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 310 | 325 | +4.8% |
Summary: The Coconut Grove real estate market had 325 homes for sale in March 2024, a 4.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 43 | 47 | +9.3% |
| 2 Bedrooms | 76 | 71 | -6.6% |
| 3 Bedrooms | 85 | 92 | +8.2% |
| 4 Bedrooms | 51 | 55 | +7.8% |
| 5+ Bedrooms | 55 | 60 | +9.1% |
Summary: The Coconut Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.3%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 37 | +15.6% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coconut Grove, you may be able to get a good deal. 83.8% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Coconut Grove in March 2024, up by 15.6% month-over-month. Of the 37 sold homes, 84% were sold under asking, 8% were sold at asking, and 8% were sold over asking.
Days on Market for Coconut Grove, FL
How long does it take to sell a home in Coconut Grove, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 76 Days | 49 Days | -35.2% |
Summary: Homes in Coconut Grove had an average of 49 days on market in Mar 2024, down by 35.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coconut Grove are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 37 homes were sold in Coconut Grove; 51% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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